Blog

Mauritius as a Blockchain Hub

Blockchain, a grooving technology have been booming on the international platform. Mauritius, our little paradise, over the years have been on the go for innovative concepts to boost our economy. The island has deep-rooted financial services, information and communications technologies. New ideas means new opportunities, henceforth Mauritius is putting forward Blockchain Technology as it will help and boost our economy on another level.

For those who know little or no idea about the concept of Blockchain, here is a simple definition. Blockchain is a shared and unchangeable ledger for recording the history of transactions. It promotes a new generation of transactional applications that establish trust, accountability and transparency from contracts to deeds to payments.

Atma Narasiah, the head of technology, innovation and services at the Board of Investment (BOI), explains that “we are working to take our economy to another level, and these kinds of technologies are very important in our strategy.” He points out that “Blockchain is an area where we will be focusing, building competencies and ensuring that it permeates other sectors of the economy and government.” Likewise, he explains that “Blockchain is one of these technologies we want to drive. We see a window of opportunity here to be able to leapfrog others.”

Internationally recognized as the powerful in sub-Saharan Africa, Mauritius has a strong business presence and governance environment. As a matter of fact, the Mauritius is ranked 49 out of 190 countries worldwide and offers the ideal business climate of any country in the region. The World Bank’s ranking measures factors like facilitate and ease a business start-up, enforce contracts, get credit, protect and secure investors, and last but not least pay taxes.

The World Economic Forum states in its annual competitive rankings that Mauritius enjoys Africa’s most resourceful, vibrant and competitive economy, finest and best infrastructure along with a highly educated bilingual workforce. Similarly, the little paradise savours stability and geographic location. And that’s why Mauritius is a well-known platform for financial services companies, another reason to take a plunge into new markets on the African continent, where numerous of the world’s largest unbanked people exist.

Additionally, Consensys which is one of the leaders of the Blockchain concept was on an investment prospection visit lately in Mauritius. The principal idea of this visit was to enlighten and educate local stakeholders of Mauritius being a Blockchain hub. The delegates of Consensys further analyse the opportunity to create operations in the country. As a matter of fact, the government is keen and is committed to developing the Blockchain Technology. The Blockchain era will create new opportunities, new ideas and growth in developing the country.